A Spotter Loan can be short term cash loans
At Spotter we specialise in short term loans with repayment periods between 3 months and 12 months. The loans we specialise in are loans up to $2000. These loans are also known as pay-day loans or small amount credit contracts (SACCs).
You can apply for the loan online and it usually takes our team an hour to assess your application during normal business hours once we have all the necessary information. Our service offers:
- Flexible repayment arrangements, you can choose 3 months, 6 months or 12 months (the most common is 6 months); and
- A simple online application process; and
- Early repayment of loans without penalty; and
- Loans are unsecured.
In the majority of cases you will not need to print and scan/fax us back any documents, everything can be done electronically online using your smart phone or computer.
Can I get short term cash loans without credit defaults?
Although we will look at your credit record in the majority of cases, a poor credit rating with outstanding defaults may not count against you. We understand that those seeking short term loans might be credit impaired and we will evaluate each case on its merits.
Get the financial help you need with our short term cash loans
At Spotter Loans we understand that life can be unpredictable and full of change, which sometimes leaves you feeling overwhelmed and unsure on how to proceed. Our short term loans are here for those that need a solution for life’s unexpected hurdles.
We make sure to let you know everything about our loan services, so you know exactly how much you get and how our payment plans work. This way you have all the information you need to figure out how to navigate your finances with ease and a hassle-free approach.
We are here to work with you to ensure all your repayments are affordable at all times during your loan. So, if circumstances change or you need any clarification on the process, we are more than happy to assist.
Applying for a loan with us is fast, easy and reliable: simply click on the apply now button to get started on your application process. If you have any questions or queries, you can reach us by calling 1800 776 863 or submit an online enquiry and we’ll get back to your promptly.
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Here’s what a loan might look like
Here’s what a small loan might look like…
You’re after a loan for $1,000 for medical or dental bills. Your are looking to repay the loan back after 6 months and are happy to make fortnightly payments.
In the above example You’ll pay:
- Loan Amount Financed: $1,000
- Establishment Fee: $200 (set by NCCP at 20% of the loan amount)
- Monthly Permitted Fee: $40 per month charged on the anniversary of the loan
- Amount of Credit of the Loan: $1,240
- Total Amount of Interest Payable: NIL
- Direct Debit Fees: $25.74 ($0.99 per transaction)
- Total amount of repayments: $1,440.00
- Nominal Percentage Rate (Interest) per annum: 0% as defined by NCCP
Comparison Rate: 160.0571% as defined by NCCP
Here’s what a medium loan might look like…
You’re after a loan for car repairs for $2,500 and are looking to make payments back on a weekly basis over 2 years.
In the above example You’ll pay:
- Loan Amount Financed: $2,500
- Establishment fee: $400 (Set by NCCP)
- Amount of Credit of the Loan: $2,900
- Total Amount of Interest Payable: $1,590.86
- Repayments: 103 x $43.19 + $42.31 (a final payment)
- Total amount of repayments: $4,490.88
- Nominal Percentage Rate (Interest) per annum: 48% as defined by NCCP